Wednesday, June 12, 2013

News Corp. Investors Approve Breakup Plan

http://www.bloomberg.com/news/2013-06-11/news-corp-holders-to-approve-plan-to-split-off-publishing-unit.html
Shareholders voted to approve the breakup plan at a special meeting this morning in New York, where the company is based, Murdoch said today. The publishing group will inherit the News Corp. name, while the entertainment unit will be called 21st Century Fox after the June 28 split. Murdoch holds the plurality of votes through his family’s trust, with 39 percent of Class B voting shares, helping ensure passage of the proposal.